Solid gains in Oil prices

Posted On 2017-07-17

Oil prices extended gains after the U.S. government's Energy Information Agency announced on Tuesday that U.S. crude oil inventories fell by 8.1 million barrels to 495.6 million in the week to July 7. It also lowered its expectations for U.S. oil output in 2018.

Meanwhile, the market is looking ahead to the latest monthly OPEC report released today, which will provide an outlook for the crude oil market